Just joined the list and thanks for all of the valuable info here. We've been a Silverleaf owner for 20 years and to convert to points, we bought 124k points at Las Vegas, bought a returned unit.
A couple of questions to verify what the sales guy told us and clarifications from people with experience on on HICV.
We were told we could rent points and it would go towards the maintenance, which makes more sense vs just paying the maintenance.
We were also told that we locked in our cost of points for a year, and we could buy a minimum of 15000 points in 5k blocks each year to extend that lock in.
Also, per the paperwork, the 5:4 ratio of banking the points goes both ways, that we can move points from my IHG account and use for HICV. I accrue a lot of points as a spire elite member through my travel with work. This seems to be a better way to get points vs buying property, at least until we plan to retire.
Thanks again and I look forward to getting educated on all of this :)
Charles
Welcome Charles!
ReplyDeleteYou can borrow points from next year by prepaying maintenance. You can also rent points, which is typically more expensive but does not take away from next year's points.
Generally speaking, I believe that HICV will let you buy more points at the same price indefinitely - retail pricing is 10x resale pricing and through ROFR, HICV can acquire as many points as they need.
I have never heard of converting IHG points to HICV points - perhaps what was meant was that you can use IHG points to book rooms at HICV properties? If so, the value is terrible, since IHG pricing is typically higher than HICV weekend pricing - a week that costs 100K HICV points might cost 250K IHG points. If you are able to successfully convert IHG points to HICV points, please let us know!
Do you mind sharing how many points they allowed you to "convert" with your purchase?
ReplyDeleteWe only had the one silverleaf property and it was valued at 75k points. I have not tried to convert IHG points over, waiting on our HICV account to be setup, they said it would take 45 days or so.
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